Various other lenders, including Metro Bank, Nationwide and HSBC, pulled their tracker products from sale in response to BoE cutting the Bank Rate from 0.25% to 0.10%. Nationwide has since re-introduced a range of two-year tracker mortgages.
Additionally, NatWest has provided updates on its mortgage payment holiday process in response to the Covid-19 outbreak.
NatWest can now review payment holiday requests for landlords with a buy-to-let or consent-to-let mortgage that are linked to Covid-19. The process for this is the same as a residential request.
The lender previously stated that a payment holiday will not affect a borrower's credit status and has now confirmed that it will not impact the customer’s ability to complete a product transfer online, either directly or through a broker.
New credit or affordability checks will not be carried out during the product transfer process if borrowers keep the same mortgage amount and repayment type.
